The air freight market is estimated to be worth $5.5 trillion USD, and this is even less than global trade volumes, however, a startup company called Airchain is proposing to simplify and fortify the air freight trades market by bringing in blockchain into the system.
They are simplifying it by including a more democratized participation and also; more so, by using smart contracts, they are able to conveniently authorize specific contract functions for transactions. Blockchain provides transparency and trust hence the fortification aspects.
The concept is quite rich, as they are approaching a trades market that is highly isolated and limited due to capitalization and heightened risk level. These problems constitute the major constraint to the transport industry, especially in the air based transport and logistics sector.
People are often worried about the safety and transparency of these markets, and with what Airchain platform proposes, a major part of these problems will be solved if they are able to pull it off.
They are combining internet of value which blockchain is a premier to and the air freight market. Moreover, by offering cheap and affordable platform services through connecting users with themselves, the ecosystem is able to make these services more accessible and reliable to the average person, therefore there is also the case of a lowered entry barrier.
Specific changes this platform is expected to bring will include a more efficient fuel economy, enhance security protocols for cargos bearing air freight, and an extensive access to an innovative scaling of the air freight economy.
The project will be doing a crowd sale event to sell a portion – about 50% of their total ANK tokens to be generated, (ANK is an Ethereum ERC20 compliant token to be used on the platform), in order to raise a maximum sum of $35 million USD to develop the product.
However, if they are not able to achieve that pinnacle, they are ready to settle for $3 million USD to initiate the preliminary stages involved with the development of the platform.Visit website